Colorado Governor Signs Marijuana Regs into Law
House Bill 1317 is the measure that implements Amendment 64, the legalization amendment passed by the state’s voters last fall.
Colorado Gov. John Hickenlooper has signed bills that implement legal marijuana into law in his state, although he opposed the legalization that passed last November and said he expects federal action against the implementation. KDVR, Fox 21 in Denver, reported Hickenlooper said during a signing ceremony that the bills "provide clarity and create common-sense regulations" and will create jobs. "Whether it's good for the brand of our state is still up in the air. But the voters passed Amendment 64 by a clear majority. That's why we're going to implement it as effectively as we possibly can," he said, according to the TV station's online report.
It says the regulatory bill, House Bill 1317, allows Coloradans to buy as much as one ounce of marijuana in specially licensed stores, and only Colorado residents will be allowed to own or invest in those stores. Out-of-state buyers are limited to one-quarter ounce at a time. The marijuana that is sold must be packaged in child-resistant packaging and labeled as to its potency.
Another bill he signed, House Bill 1318, allows the state’' voters to have their say in November about what state tax rates will apply to marijuana sales. Legislators passed a 15 percent excise tax rate and a 10 percent sales tax.